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  I've had the British Journal of Photography Newsletter in this morning and will quote the following from it...you can see the mess...
  
  
  "
  
  "Kodak is taking a significant step toward enabling our enterprise to complete its transformation," says Antonio M. Perez, Kodak's chairman and chief executive officer, when announcing the firm's intention to file for bankruptcy protection.
  
  The decision comes after six years of losses that have resulted in Kodak amassing $6.8 billion in debt, while its assets are only valued at $5.1 billion. Now, Kodak is banking on a $950 million debtor-in-possession credit facility with an 18-month maturity from Citigroup to survive over the next year and a half, providing "sufficient liquidity to operate its business during chapter 11, and to continue the flow of goods and services to its customers."
  
  
  "
  
  Yes...that reads BILLIONS in debt. It has more debt than some of the countries in the European Union!! ...well almost...It filed for bankruptcy protection before some debtor issued bankruptcy proceedings against them.

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